HYPE’s price went parabolic over the past week, climbing roughly 40% in seven days and reaching a new all-time high above $64.
The sharp rally cooled somewhat in the last 24 hours as some investors began taking profits instead of chasing further gains.
Some HYPE Whales Are Cashing Out
HYPE surged from under $40 to above $64 in recent weeks, producing one of the most dramatic moves across the crypto market. The spike added billions to Hyperliquid’s market capitalization and was driven by heavy trading volume and intense investor interest.
As expected after such a rapid advance, the momentum has paused while some holders lock in gains.
On-chain analytics account Lookonchain recently highlighted a wallet that sold 151,574 HYPE—around $9.25 million—within hours. The same trader also placed limit sell orders for roughly 170,000 HYPE, valued at about $10.6 million, with prices between $63.45 and $70.55.
At the time of writing, HYPE ranks as the 11th-largest cryptocurrency by market capitalization, at approximately $15 billion. The token stands out as this week’s top-performing large-cap crypto and moved close to overtaking Dogecoin for the 10th spot during the price surge.
HYPE-based spot exchange-traded funds have also seen inflows, increasing assets under management while the broader market shows outflows. While some major products, such as Bitcoin ETFs, experienced over a billion dollars in withdrawals, HYPE-linked funds attracted more than $70 million in new AUM during the same period.